Eliminates the retail sale of food from state and local sales and use tax and authorizes certain tax increases to offset lost revenues, subject to voter approval

HB 2401 repeals existing tax statutes and replaces them with new provisions that update how property values are assessed and calculated across Missouri. The bill establishes specific rules for determining the taxable value of real and personal property, including adjustments for new construction and improvements to airport-related properties. It also sets a timeline for assessors to submit assessment plans and outlines a process for resolving disputes through mediation or administrative hearings. While the bill's title mentions eliminating sales tax on food and authorizing tax increases, the provided text focuses entirely on property tax assessment procedures rather than sales tax changes.